This document is the "National UCC Financing Statement Addendum," and it is an American Lawyer Media form. It accompanies the UCC Financing Statement.
The Hennepin County UCC Financing Statement Addendum is an important legal document used in the state of Minnesota to provide additional specific information related to a UCC (Uniform Commercial Code) Financing Statement. This addendum is filed with the Hennepin County Recorder's Office and serves to supplement and enhance the original financing statement by including additional details regarding the collateral or debtor. The primary purpose of the Hennepin Minnesota UCC Financing Statement Addendum is to ensure accuracy and clarity in identifying the collateral, which is being used as security for a loan or credit agreement. By filing this addendum, lenders and creditors can establish their priority and right to collect in case of default or bankruptcy. There are different types of Hennepin Minnesota UCC Financing Statement Addendums that can be filed, depending on the specific needs and circumstances of the financiers. Some of these variations include: 1. General Addendum: This type of addendum is used to provide any additional information that is relevant to the financing statement but may not fit into any specific category. It allows for flexibility in including extra details that could be crucial for properly identifying and defining collateral. 2. Collateral Change Addendum: In situations where the collateral described in the original financing statement needs to be modified or updated, this type of addendum is used. It allows for changes to be made to the original statement to reflect any alterations in the collateral. 3. Debtor Information Addendum: When there is a need to include additional or corrected information about the debtor, such as a change in address or a misspelled name, this addendum is used. It ensures accuracy in identifying the debtor and their legal obligations. 4. Amendment Addendum: This addendum is filed when there is a need to make substantial changes to the original financing statement. It includes modifications to various aspects, including debtor information, collateral description, or secured party details. It is crucial for lenders, debtors, and other relevant parties involved in secured transactions within Hennepin County, Minnesota, to understand and comply with the requirements of the Hennepin Minnesota UCC Financing Statement Addendum. By doing so, they can safeguard their interests and ensure proper legal protection. Filing the appropriate addendum based on the specific circumstances will aid in establishing clarity, accuracy, and compliance with the relevant regulations.The Hennepin County UCC Financing Statement Addendum is an important legal document used in the state of Minnesota to provide additional specific information related to a UCC (Uniform Commercial Code) Financing Statement. This addendum is filed with the Hennepin County Recorder's Office and serves to supplement and enhance the original financing statement by including additional details regarding the collateral or debtor. The primary purpose of the Hennepin Minnesota UCC Financing Statement Addendum is to ensure accuracy and clarity in identifying the collateral, which is being used as security for a loan or credit agreement. By filing this addendum, lenders and creditors can establish their priority and right to collect in case of default or bankruptcy. There are different types of Hennepin Minnesota UCC Financing Statement Addendums that can be filed, depending on the specific needs and circumstances of the financiers. Some of these variations include: 1. General Addendum: This type of addendum is used to provide any additional information that is relevant to the financing statement but may not fit into any specific category. It allows for flexibility in including extra details that could be crucial for properly identifying and defining collateral. 2. Collateral Change Addendum: In situations where the collateral described in the original financing statement needs to be modified or updated, this type of addendum is used. It allows for changes to be made to the original statement to reflect any alterations in the collateral. 3. Debtor Information Addendum: When there is a need to include additional or corrected information about the debtor, such as a change in address or a misspelled name, this addendum is used. It ensures accuracy in identifying the debtor and their legal obligations. 4. Amendment Addendum: This addendum is filed when there is a need to make substantial changes to the original financing statement. It includes modifications to various aspects, including debtor information, collateral description, or secured party details. It is crucial for lenders, debtors, and other relevant parties involved in secured transactions within Hennepin County, Minnesota, to understand and comply with the requirements of the Hennepin Minnesota UCC Financing Statement Addendum. By doing so, they can safeguard their interests and ensure proper legal protection. Filing the appropriate addendum based on the specific circumstances will aid in establishing clarity, accuracy, and compliance with the relevant regulations.
